IPES

Ipes was founded in 1998 and from its small beginnings Ipes has grown to become one of the leading European providers of private equity fund administration services.

The Company currently employs over 85 staff in Guernsey and London and has upwards of US$21bn of assets under administration. Ipes operates globally with fund groups spread as far apart as Asia and Latin America, with around 55 clients, 110 funds and over 3000 investors. Ipes’s strong reputation in the private equity industry is reflected in its client base, which consists of a number of well known buyout houses, venture capital groups, fund of funds, and start-up groups.

In response to both client needs and market developments, Ipes is expanding its jurisdictional reach further, with offices planned in both Jersey and Luxembourg in the near future.

In the 2006 Lipper Fitzrovia Fund Encyclopaedia, Ipes was quoted as the largest fund administrator in Guernsey in terms of assets under administration. Ipes was also the recipient of the Private Equity News Fund Administrator of the Year Award 2006.

Ipes UK Limited

Ipes UK was established in early 2006 to provide existing and prospective clients with administration services in the English capital. The offices are centrally located and well positioned for meetings with clients and their advisers and are equipped to provide a full range of administrative services. In addition it provides a base for the group’s marketing activities and has facilities for board and other client meetings.

Services

Having always focused purely on private equity, Ipes has built up a strong reputation and thorough knowledge of this specialised industry. Ipes prides itself on its high quality staff and employs professionals with the experience and ability to deliver a first class, flexible service to its diverse range of clients.

Principal services offered by Ipes, both offshore and onshore, include the administration of:

• Private equity funds structured as limited partnerships and companies;

• Management and general partner entities and special purpose vehicles associated with private equity funds;

• Investment holding companies formed in any jurisdiction (e.g. Luxembourg, Cyprus, BVI, Madeira, Cayman Islands, Singapore, Canada, Bermuda, etc);

• Carried interest structures, trusts, co-investment schemes.

Through working with such a diverse client base over the last 10 years, Ipes has developed best practice and processes, that can be adapted to suit each client’s needs, in a highly personalised and tailored way. Specific services provided by Ipes support each step of the fund cycle from the initial fund launch through to general administration, including:

• Assistance with establishing a fund, reviewing supporting documentation from an operational perspective, liaison with relevant advisers and management of compliance and due diligence requirements;

• Corporate Services (from company and partnership secretarial services, to registered office provision, maintenance of statutory records and provision of independent directors);

• Accounting services, including maintenance of full accounting records, preparation of financial statements in accordance with relevant industry body guidelines, overseeing audit processes and statutory reporting;

• Overseeing and monitoring the investment process, providing safe custody and liaising with other jurisdictions regarding relevant holding companies;

• Investor relations in the form of managing investor contacts, enquiries and reporting, processing all investor-related transactions and ongoing investor verification;

• General administration in the form of cash management, treasury services and assistance with credit and bridge finance facilities.

Technology

Ipes uses specialised private equity administration software across all funds it administers. The externally sourced software is enhanced through additional functionality developed in-house and our systems support all of the essential functions associated with the demanding financial and administrative requirements of a private equity fund including investor relations database, automated calls and distributions management, multi-currency nominal ledger system, annual statutory reporting, a secure investor website providing client and automated investor reporting and electronic links to banks, providing straight-through processing.

Contact Information

For further information about Ipes and the services we offer, please contact our head of new business, Julie Jones or marketing director, Anoosha Livani at the following:

Julie Jones

Ipes

PO Box 431

13-15 Victoria Road

St Peter Port

Guernsey

Channel Islands

GY1 3ZD

Telephone: +44 (0) 1481 713843

Facsimile: +44 (0) 1481 715219

Website: www.ipes.com

Anoosha Livani

Ipes UK

23 Buckingham Gate

London

SW1E 6LB

Telephone: +44 (0) 20 7834 0583

Facsimile: +44 (0) 20 7630 7177

Website: www.ipes.com